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Risk, managerial effort, and project choice
16 references·16 citing·39 second hopsampled
Risk, managerial effort, and project choice (1992)Risk, managerial effort, and project choi…Managerial Conservatism, Project Choice, and Debt (1992)Managerial Conservatism, Proj…An Analysis of the Principal-Agent Problem (1992)An Analysis of the Principal-…Performance Pay and Top-Management Incentives (1990)Performance Pay and Top-Manag…Sensitivity, Precision, and Linear Aggregation of Signals for Performance Evaluation (1989)Sensitivity, Precision, and L…Justifying the First-Order Approach to Principal-Agent Problems (1988)Justifying the First-Order Ap…Managerial Incentives and Corporate Investment and Financing Decisions (1987)Managerial Incentives and Cor…Managerial Incentives and Capital Management (1986)Managerial Incentives and Cap…Managerial Incentives for Short-Term Results (1985)Managerial Incentives for Sho…Financial Intermediation and Delegated Monitoring (1984)Financial Intermediation and …The Structure of Ownership and the Theory of the Firm (1983)The Structure of Ownership an…An Analysis of the Principal-Agent Problem (1983)An Analysis of the Principal-…A Theory of Wage Dynamics (1982)A Theory of Wage DynamicsRisk Reduction as a Managerial Motive for Conglomerate Mergers (1981)Risk Reduction as a Manageria…Optimal incentive contracts with imperfect information (1979)Optimal incentive contracts w…Moral Hazard and Observability (1979)Moral Hazard and ObservabilityTheory of the firm: Managerial behavior, agency costs and ownership structure (1976)Theory of the firm: Manageria…Do ESG scores effect bank risk taking and value? Evidence from European banks (2020)Do ESG scores effect bank ris…Does CEO managerial ability matter? Evidence from corporate investment efficiency (2018)Does CEO managerial ability m…The Impact of Corporate Social Responsibility on Risk Taking and Firm Value (2016)The Impact of Corporate Socia…Executive Compensation: Where We are, and How We Got There (2012)Executive Compensation: Where…Equity Incentives and Long-Term Value Created by SG&A Expenditure* (2011)Equity Incentives and Long-Te…Entrepreneurial finance meets organizational reality: comparing investment practices and performance of corporate and independent venture capitalists (2010)Entrepreneurial finance meets…Innovation's Effect on Firm Value and Risk: Insights from Consumer Packaged Goods (2008)Innovation's Effect on Firm V…Executive Stock Options: Early Exercise Provisions and Risk‐taking Incentives (2006)Executive Stock Options: Earl…Agency and Corporate Investment: The Role of Executive Compensation and Corporate Governance* (2006)Agency and Corporate Investme…Corporate Social Responsibility and Long-term Compensation: Evidence from Canada (2005)Corporate Social Responsibili…Overconfidence, Investment Policy, and Executive Stock Options (2003)Overconfidence, Investment Po…The Implications of Long-Term Performance Plans and Institutional Ownership for Firms' Research and Development (R&D) Investments (2001)The Implications of Long-Term…Executive Equity Compensation and Incentives: A Survey (2001)Executive Equity Compensation…Pricing Strategy and Financial Policy (1998)Pricing Strategy and Financia…Capital budgeting and delegation1We thank Bhagwan Chowdhry, Yaniv Grinstein, an anonymous referee, and seminar participants at Columbia, Duke, Hong Kong University of Science and Technology, Indiana, Tel Aviv, Vanderbilt, and the European Finance Association Meetings (Vienna, 1997).1 (1998)Capital budgeting and delegat…Managerial Reputation and Corporate Investment Decisions (1993)Managerial Reputation and Cor…The Theory of Syndicates (1968)Essays in the Theory of Risk-Bearing. (1972)Markets and Hierarchies: Analysis and Antitrust Implications. (1976)Agency Costs, Net Worth, And Business Fluctuations (1988)The Pricing of Options and Corporate Liabilities (1973)Agency Problems and the Theory of the Firm (1980)Agency Theory: An Assessment and Review (1989)Managerial incentives and risk-taking☆ (2005)Who makes acquisitions? CEO overconfidence and the market's reaction☆ (2008)The effects of monetary incentives on effort and task performance: theories, evidence, and a framework for research (2002)Subjectivity and the Weighting of Performance Measures: Evidence from a Balanced Scorecard (2003)Integrative strategic performance measurement systems, strategic alignment of manufacturing, learning and strategic outcomes: an exploratory study (2004)Cost Accounting: A Managerial Emphasis, (2010)On Moral Hazard and Insurance (1979)Redistributive taxation as social insurance (1980)Production, Information Costs and Economic Organization (1996)The arbitrage theory of capital asset pricing (1976)Bank Runs, Deposit Insurance, and Liquidity (1983)The Benefits of Lending Relationships: Evidence from Small Business Data (1994)Financial Intermediation, Loanable Funds, and The Real Sector (1997)The Economic Theory of Agency: The Principal's Problem. (1973)Good News and Bad News: Representation Theorems and Applications (1981)Incomplete Contracts and Renegotiation (1988)Managerial Incentive Problems: A Dynamic Perspective (1999)The Theory of Incentives: The Principal-Agent Model (2001)The Nature of the Firm (1937)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)Separation of Ownership and Control (1983)Corporate financing and investment decisions when firms have information that investors do not have (1984)Law and Finance (1998)Local Governments as Industrial Firms: An Organizational Analysis of China's Transitional Economy (1995)The Role of the Local State in China's Transitional Economy (1995)The Theory of the Firm as Governance Structure: From Choice to Contract (2002)Using Cost Observation to Regulate Firms (1986)Incentives in Principal-Agent Relationships (1991)The Tenuous Trade‐off between Risk and Incentives (2002)The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems (1993)Higher market valuation of companies with a small board of directors (1996)A Survey of Corporate Governance (1997)
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References

  • 1976Theory of the firm: Managerial behavior, agency costs and ownership structure71,441 cited
  • 1984Financial Intermediation and Delegated Monitoring8,393 cited
  • 1979Moral Hazard and Observability8,358 cited
  • 1990Performance Pay and Top-Management Incentives5,080 cited
  • 1981Risk Reduction as a Managerial Motive for Conglomerate Mergers2,775 cited
  • 1983The Structure of Ownership and the Theory of the Firm2,352 cited
  • 1983An Analysis of the Principal-Agent Problem2,127 cited
  • 1992An Analysis of the Principal-Agent Problem1,913 cited
  • 1979Optimal incentive contracts with imperfect information942 cited
  • 1989Sensitivity, Precision, and Linear Aggregation of Signals for Performance Evaluation877 cited
  • 1982A Theory of Wage Dynamics863 cited
  • 1985Managerial Incentives for Short-Term Results847 cited
  • 1987Managerial Incentives and Corporate Investment and Financing Decisions715 cited
  • 1986Managerial Incentives and Capital Management671 cited
  • 1992Managerial Conservatism, Project Choice, and Debt555 cited
  • 1988Justifying the First-Order Approach to Principal-Agent Problems

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511 cited

Cited by

  • 2008Innovation's Effect on Firm Value and Risk: Insights from Consumer Packaged Goods461 cited
  • 2016The Impact of Corporate Social Responsibility on Risk Taking and Firm Value423 cited
  • 2020Do ESG scores effect bank risk taking and value? Evidence from European banks387 cited
  • 2005Corporate Social Responsibility and Long-term Compensation: Evidence from Canada291 cited
  • 1993Managerial Reputation and Corporate Investment Decisions254 cited
  • 2010Entrepreneurial finance meets organizational reality: comparing investment practices and performance of corporate and independent venture capitalists221 cited
  • 2011Equity Incentives and Long-Term Value Created by SG&A Expenditure*180 cited
  • 2012Executive Compensation: Where We are, and How We Got There147 cited
  • 2018Does CEO managerial ability matter? Evidence from corporate investment efficiency140 cited
  • 2001Executive Equity Compensation and Incentives: A Survey132 cited
  • 2001The Implications of Long-Term Performance Plans and Institutional Ownership for Firms' Research and Development (R&D) Investments126 cited
  • 1998Pricing Strategy and Financial Policy123 cited
  • 2006Executive Stock Options: Early Exercise Provisions and Risk‐taking Incentives118 cited
  • 1998Capital budgeting and delegation1We thank Bhagwan Chowdhry, Yaniv Grinstein, an anonymous referee, and seminar participants at Columbia, Duke, Hong Kong University of Science and Technology, Indiana, Tel Aviv, Vanderbilt, and the European Finance Association Meetings (Vienna, 1997).1113 cited
  • 2003Overconfidence, Investment Policy, and Executive Stock Options112 cited
  • 2006Agency and Corporate Investment: The Role of Executive Compensation and Corporate Governance*103 cited